Shares & Derivatives
Sheng Siong Pays Out a 2022 Dividend of S$0.0622: 5 Highlights from the Retailer’s Latest Earnings
By The Smart Investor  •  March 6, 2023
Sheng Siong Group (SGX: OV8) has eked out a small year on year increase in net profit even as revenue moderated as Singapore enters the endemic stage of COVID-19. This sturdy result speaks volumes of management’s commitment to continually improving its margins and managing its inventory to obtain optimal results. Here are five highlights from Sheng Siong’s 2022 earnings report. 1. A respectable set of financial numbers For 2022, Sheng Siong saw its revenue dip by 2.2% year on year to S$1.3 billion as demand normalised on the back of easing mobility restrictions as of 1 April 2022. Comparable store sales saw a 4.8% year on year decline but were offset by a 2.1% year on year revenue contribution from the opening of five new stores. Despite the lower revenue, Sheng Siong reported a slightly higher gross profit of S$393.5 million for 2022 compared to S$393.3 million in 2021 as the gross margin improved (more on this in point three below)....
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By The Smart Investor
The Smart Investor is co-founded by David Kuo, Joanna Sng, and Chin Hui Leong. The company was formed in late 2019 from the ashes of the Motley Fool Singapore. The Smart Investor believes that everybody can learn how to invest, smartly. We aim to educate people on how to invest smartly by providing investing education, stock commentary and market coverage for Singapore and around the world.
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